6 Key EPM / NSPB Updates – May 2023
The Pivot2 team have compiled a list of some of the most useful updates to be included over the last month, that could specifically help your business process.
Please reach out for a chat by contacting us here if you would like any further information.
SUMMARY
CONSIDERATIONS
1. Upgrade to Redwood Theme
ORACLE GENERAL
2. Data Management Feature Replacement by Data Integration
3. A new "Save As" option in the simplified interface enables you to save a form with a new name while you are editing the form in the Form Designer.
FCCS
4. Performing Calculations Without Having to Submit Your Changes (Calc on the Fly)
TASK MANAGER
5. Enabling Task Manager within Existing Planning Applications
ENTERPRISE PROFITABILITY AND COST MANAGEMENT
6. Ability to Find and Replace Members That No Longer Exist in a Dimension
CONSIDERATIONS:
UPGRADE TO REDWOOD THEME
Migrating to the Generation 2 platform – Whether you are in the process of migrating or already migrated to Gen2, now is a good time to upgrade to Redwood Experience if not already on it.
The Redwood theme provides a clean and modern look and feel on the home screen. It has simplied complex workflows and streamlined navigation flows. Additionally, the enhanced data visualisation capabilities empower finance professionals to analyse and interpret financial data more effectively, aiding in accurate reporting, analysis, and informed decision-making.
As it has gained wide adoption across the Oracle Cloud user base, in an upcoming update (December 2023), Oracle EPM Cloud plans to support only the Redwood Experience theme. All non-Redwood themes are planned to be de-supported, and non-Redwood themes will no longer appear as options on the Appearance page for new applications.
One of the reasons to upgrade to Redwood is Forms 2.0 and Dashboards 2.0 are coming within the next 6 months and will only be available in the Redwood theme.
Forms 2.0 features:
Improvements on: Runtime-only and usability
Enhanced scalability and performance
Greater consistency between Web forms and Smart View forms
Easily switch between Forms 1.0 to Forms 2.0 using an application setting
Dashboards 2.0 enhancements include:
Introduction of new Grid chart type embedding Forms 2.0.
New URL and Commentary types of Dashboard objects
Custom formatting for titles and background colours in URL, Commentary, and Grid objects
New user interface for associating business rules
Ability to display multiple Gauge, Pie, and Doughnut charts inside one Dashboard object
New menu options for opening and editing forms directly from Dashboard
Ability to easily convert 1.0 Dashboards to 2.0 individually
Business Benefit:
Not only that the Redwood theme provides clean and modern look and feel, it also improved user productivity, reduced training costs, and increased user experience. It also enables access to innovative features like Forms 2.0 and Dashboards 2.0 with the value-adding enhancements mentioned above, while future-proofing investments with Oracle's strategic focus on the Redwood theme.
ORACLE GENERAL
DATA MANAGEMENT FEATURE REPLACEMENT BY DATA INTEGRATION
Starting from the July (23.07) update, the four features listed below in Data Management will no longer be available there but will be moved to Data Integration, which can be accessed from the Data Exchange card on the Cloud EPM Business Process home screen. However, Data Management will still be available.
Business Benefit:
Data Integration is the next generation of the Data Management user interface. As the above listed features now have 100% parity with Data Integration, moving them to Data Integration now enables users to more easily build and manage Cloud EPM integrations.
A NEW "SAVE AS" OPTION IN THE SIMPLIFIED INTERFACE ENABLES YOU TO SAVE A FORM WITH A NEW NAME WHILE YOU ARE EDITING THE FORM IN THE FORM DESIGNER.
Applies to: Financial Consolidation and Close, FreeForm, Planning, Planning Modules, Tax Reporting
Previously, to edit a form and save the changes with a new name, you had to follow multiple steps. You had to go to the listing page, select "Copy As" to make a duplicate with a new name, and then open it in the Form Designer to make edits. However, with the new "Save As" option, while editing the form in the Form Designer, you can simply click "Save As," provide a new name, and save the form directly, reducing the extra steps.
To view the new "Save As" button, follow the steps below:
· From the Home page, click Data.
· Expand a form folder, and then click the name of a form to open it.
· Click Form Designer. The "Save As" button is at the top of the edit page.
· Update the form, click "Save As," enter a new form name, and then click OK.
· The updated form with the new name is added to the form list.
If Redwood Experience is enabled, the newly named form opens in a new dynamic tab.
Business Benefit:
The ability to save a variant of a form with a new name while editing it increases convenience, flexibility and improve user experience.
FCCS
PERFORMING CALCULATIONS WITHOUT HAVING TO SUBMIT YOUR CHANGES (CALC ON THE FLY)
During ad hoc analysis you can now perform calc on the fly in your Financial Consolidation and Close and Tax Reporting business processes without having to submit changes to the database. This feature is already available for FreeForm, Planning, and Planning Modules from the March 2022 update.
Applies to: Financial Consolidation and Close, Tax Reporting
Business Benefit:
You can perform multiple calculations quickly without having to submit the changes to see the results.
For example, you can enter values or change existing values in the data cells and see the cells with formulas refresh immediately with the calculated values, without actually saving or submitting the changes. You do not need to run any business rules or perform calculation functions to refresh the values in the grids.
When you have completed all your changes and are satisfied with the calculations, you can then submit the updated values to the database.
TASK MANAGER
ENABLING TASK MANAGER WITHIN EXISTING PLANNING APPLICATIONS
If you are currently using task lists in Planning or if you selected the Task List task flow type during Planning application creation, you can enable Task Manager within the Planning application.
Some things you'll need to consider before enabling Task Manager:
After enabling Task Manager, you cannot convert back to task lists.
You cannot migrate existing tasks and task lists to Task Manager. You must delete your tasks and task lists before enabling Task Manager.
Enabling Task Manager is only supported if Redwood Experience is enabled.
You must log out and log in again to see the newly enabled Task Manager.
To enable Task Manager, click Application, and then click Overview. Then from the Actions menu, select Enable Task Manager. Log out and log in again to see the newly enabled Task Manager.
Business Benefit: You can easily enable Task Manager from within the Planning application.
ENTERPRISE PROFITABILITY AND COST MANAGEMENT
ABILITY TO FIND AND REPLACE MEMBERS THAT NO LONGER EXIST IN A DIMENSION
The Find Member field in the rule designer Mass Edit tab now allows you to enter a member name that no longer exists in a dimension. Once you find a member not used in a dimension, you can then replace that member reference with another member selected from the dimension hierarchy. This allows you to fix multiple broken rules that are referencing an invalid member.
Business Benefit:
It is now easier to repair large numbers of rules that reference dimension members that no longer exist in a dimension.
This feature will be very useful tool and helps maintain data consistency and enables accurate analysis on a timely basis in situation when there are changes such as organisational restructure in departments and cost centres or streamlining of chart of accounts. Certain members in the dimensions may become obsolete or no longer relevant.
In this case, existing rules that reference those obsolete members may produce inaccurate results or fail altogether. By utilising the enhanced find and replace functionality, system administrator can search for instances where the invalid members are referenced in rules, thus making the necessary changes quickly.
By leveraging this feature, businesses can quickly adapt their planning, budgeting, or reporting processes to organisational changes.